Expert, localized Los Angeles answers provided by Heather Roy

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condo Still Not Built

  I have a contract with a Riverfront condo development that was written in June '07 and has not closed yet. The Developer/Seller has lowered the price considerably and it looks like the sales have diminished considerably also. Do I have recourse with the Seller to get some kind of reduction on my Unit?
 
  Talk with a real estate lawyer about whether there's any way you can void your present contract and start all over again with the builder.  Or perhaps -- I can't really judge the negotiation climate -- just mentioning that you plan to do that may cause the builder to offer you some reduction.
Let me know what happens; I'm interested.
    Edith
Originally published on January 21, 2008
 
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